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May 18, 2024 |
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| Home > Small Business Lenders by State > Michigan Business Loan Sources > Bay City, Business Loans > Chemical Bank Bay City Business Loans > Electrical Contractors And Wiring Installation Contractors Loan | ||||
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Chemical Bank Small Business Au Gres
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Business Loan from Chemical Bank Given to Electrical Contractors And Wiring Installation Contractors CompanyChemical Bank has a track record as a leading provider of SBA loans. Find out how this Michigan entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Au Gres, Michigan, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Chemical Bank, based in Bay City, Michigan. SBA Loan Borrower COMPANY TYPE: ELECTRICAL CONTRACTORS AND WIRING INSTALLATION CONTRACTORS SBA Loan Lender CHEMICAL BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238210 - Electrical Contractors and Wiring Installation Contractors Loan Approval Date 6/7/2004 Loan Approval Gross Amount $30,250 Loan Approval from the SBA Of the total $30,250 loan amount, the SBA guaranteed $25,712. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Chemical Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Chemical Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Find an SBA Lender in Bay City, Michigan
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